Minority shareholders of Buwog AG will receive €29.05 per share in cash for the transfer of their shares in the company to Vonovia SE

The squeeze-out was initiated after Vonovia's stake in Buwog reached about 90.7%, as at June 18, following the two's approximately €5.2 billion merger deal.

The payment consideration, subject to the confirmation of court-appointed expert Grant Thornton Unitreu GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft, was jointly set by both companies' directors.

The share transfer and pricing will be considered by Buwog shareholders at an Oct. 2 meeting.